Source: Harold James, professor of history at Princeton University, in Journal de Negotias, April 18
As populations in Europe age, the demographic pyramid is rapidly inverting – and a war of generations, rather than of classes, is emerging…. The war is fought primarily at the ballot box – old people win elections, while young people stay home – and the spoils lie in the national budget, in the balance among education, pension, health care and tax regimes. With this clash, the intergenerational pact that long underpinned social and political stability has been broken….
For now, the safety valve provided by labor mobility may rule out a youth revolt against the selfishness and complacency of the elderly. The question is what will happen when opportunities abroad are no better than those at home.